What Is Driving Saudi GDP Growth in 2026?

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00:00And when it comes to spending, what would you say are the government's priorities?

00:05Yes. So the spending has multiple layers of spending priorities.

00:12Once we should remind ourselves, Ministry of Finance take care of the spending of the different ministerials.

00:21And this goes mostly to as an operational spending.

00:25So CapEx will be around 14 percent versus operations will be the rest.

00:30Most sectors that will be continuing within the Vision 2030, not only the Ministry of Finance, are the health infrastructure.

00:38We have the technology we have seen during the U.S. visit. There is a concentration in the tech sector.

00:44So this is just to name out of so many sectors that Vision concentrate on.

00:50OK. And when it comes to GDP growth for 2026, I just wondered, what are your expectations and what do you think is underpinning the growth?

01:00So we saw the Ministry of Finance projection to have 4.6.

01:06Other IMF looks at 4 percent.

01:11From our perspective, we can see two things that are driving the growth.

01:16We have the non-OIL GDP and we have the OIL GDP.

01:19For the non-OIL GDP, we continue projection of 4.5 in the medium term.

01:23And also we look at this is the new part, where is the OIL GDP.

01:28So this year it will contribute even more.

01:31So we will have around 4.6 for the non-OIL GDP contribution.

01:37So the overall GDP, it will be around 4.5 to 4.7.